Daily Chart Setups - 13 Jan 2023

Here are today’s directional views from our market research desk! These can be starting points for your own research to identify opportunities that suit your trading charts and trading style. Like what you see? Feel free to forward this to a friend!

Please note that the analysis presented in the charts below should not be considered investment or trading advice. They are for educational purposes only and you should consider seeking advice from an independent financial advisor.

AUDCAD 4 Hour Chart

AUD/CAD 4 Hour Chart
AUD/CAD 4 Hour Chart

Chart Action Points - AUD/CAD 4 Hour Chart

Action: Potential buy positions above 0.9320Action: Potential sell positions below 0.9320
Take Profit 1 (TP1) at 0.9346Take Profit 1 (TP1) at 0.9284
Take Profit 2 (TP2) at 0.9370Take Profit 2 (TP2) at 0.9244

Comments

  1. RSI Indicator forming higher highs and higher lows, moving towards an overbought zone.
  2. Pair testing the resistance at the current level while moving upwards in an ascending channel.

USDJPY 4 Hour Chart

Trading Signals USD/JPY 4 Hour Chart
USD/JPY 4 Hour Chart

Chart Action Points - USD/JPY 4 Hour Chart

Action: Potential buy positions above 129.50Action: Potential sell positions below 129.50
Take Profit 1 (TP1) at 130.55Take Profit 1 (TP1) at 128.00
Take Profit 2 (TP2) at 131.60Take Profit 2 (TP2) at 126.55

Comments

  1. RSI Indicator in oversold territory under the 30 points mark.
  2. The 50 SMA is losing downward momentum and beginning to track sideways.

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